Investous is a broker that is regulated by the IFSC. Technically speaking, this broker is not supposed to accept people from EU and UK countries. Though they are regulated on paper, Belize does not instill much confidence because of the lenient set of laws they have. Moreover, things like compensation funds are not available with them. This broker offers a web based trading software, but it lacks a lot of functionality and the interface itself is not as user friendly as one would think.
Leverage on this brokerage tops out at 1:500 which is way higher than most newbies can handle. Educational material is provided by this platform and it certainly explains basic concepts in a simple manner. The educational content does not appear to be updated on a regular basis. There is no in-house analyst team hired by this broker and all of the insights they provide are mainly from TradingCentral.
On the bright side, they do support MT4 software and the instruments made available to the retail side is also immense. Apart from the fact that there are no derivatives present, the choices present are enough to maintain a healthy portfolio. User feedback about them on all the niche forums are bad and people are generally not happy with the way they were treated.
As there is a lot of confusion about the reputation of this firm, the retail crowd is indeed very confused about them. To understand the reality about this broker, read our unbiased review. In case, if you have any additional questions, comment below and we will answer it as soon as possible.
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Is Investous Regulated?
The best thing retail traders can do to shield themselves from unwanted things in the financial realm is to stick with a regulated broker. Unfortunately, not all authorities are the same and the grey areas present are huge and it enables brokers to get away with borderline manipulation. There might be few firms here and there that have stood the test of time, but finding them is difficult and things can change very quickly with them.
Investous is operated by IOS Investments Limited and they are regulated and authorized by the IFSC of Belize. The thing which you need to know about Belize regulation is that it is not as reputable as the FCA or the FINRA. Though the broker is legally permitted to offer high risk trading instruments, there is no protection provided to the clients in case an unforeseen development occurs with the firm.
Moreover, the transparency element is also missing and the room occupied by uncertainty is beyond acceptable levels. Note that there are no compensation schemes in case of bankruptcy and that exposes the retail trader’s capital to a lot of risk. So, do not get fooled by their regulatory status instead understand the whole scenario and then make a move with them.
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How to get in touch with the Support Team?
Compared to a lot of brokers in the forex niche, the kind of customer support provided by Investous pales. There is a detailed FAQ section that addresses most of the common queries, but without the human element, it is hard for newbies to address their problems, concerns or queries quickly. Investous does not have a dedicated support staff, they can be reached via Live Chat or phone, but the catch is you have to fill out a form and hope for the best.
Response time is not stated and their working hours are not specified. As most of the communication is dependent upon either the contact forms and the live chat feature, if there are any issues with these portals, the customers will not be able to do anything about it. Lack of proper infrastructure is shocking and there are much better alternatives available.
Trading Conditions and Platform
There are around 300 plus trading instruments offered by this firm. Their webtrader can be accessed by anyone and it doesn’t even ask for registration. The default platform is not sophisticated and the chart templates cannot be tweaked to our liking. Default indicators present comprises all the common and popular indicators such as the RSI and the MACD, but lack of customization is a big problem especially for experienced traders.
They do support the MT4 platform and that is a sign of relief. VPS service is not provided by them. If you are someone that prefers algorithmic trading, then be aware of their high trading costs. Spreads for major forex pairs are in between 3 to 5 pips and that’s a lot. For scalpers and day traders, the high costs will be a huge problem and it will be a difficult task to monetize the small moves.
Some of the assets available in their web trader are not found on the MT4 platform which is very strange to say the least. Lack of clear information along with mediocre user experience hints that this broker’s only goal is to make money and nothing else. Flaws present in their software along with numerous uncertainties means the newbies are going to have a hard time if they choose to continue with this platform.
Investous Account Types
4 account types are offered by this brokerage. Though many of their features are available across all account types, the main differentiating factor is the withdrawal fees. The capital requirement ranges from a reasonable $250 to $250,000. Spreads on the VIP account are also on the higher side and it is not exactly wise to put up a quarter of a million dollars deposit with a controversial broker just to unlock a few benefits that almost all of the regulated ECN brokers provide.
Featured ideas and market insights are perks that are given to every account, but as we have not seen any data firsthand, we cannot comment anything about the value it holds. All in all, compared to most of the brokers we have seen over the years, this one stands out for all the wrong reasons. Below is the list of features available to all the account types.
- Market Buzz
- Analyst Views
- Featured Ideas
- Economic Insights
- Daily Market Analysis
- Web Tv
Education Center and Market Insights
11 books and few videos are offered to the clients by this firm. The ebooks are not something that is entirely relevant to the current era, but at the end of the day, it might be helpful to a minority of the traders that might join this platform. Educational articles on this site are vague and the video content is sometimes below 1 minute.
The lack of quality content is disturbing and there are better and free alternatives available wherein people need not even sign up to get access to valuable data. Market insights are above par, but you should not blindly invest on the ideas shared there. Remember, all of their data is intended for educational purposes only.
If you feel the need to pull the trigger and take on risk, make sure to understand the consequences and if you are unsure, then talk to a licensed financial adviser. All in all, we can say that this broker has not made any considerable attempt to educate their clients and the way things are set up clearly proves this specific point.
As the basic account type requires a deposit of $250, it is reasonable to assume that it is the minimum deposit required to get started with them. Both the minimum deposit and withdrawal amount is not mentioned. For wire transfer, the minimum transaction needs to be above $120 and the processing time might take up to a week. They do support e-wallets such as neteller, skrill.
This broker allows people to open an account with 30 base currencies and if withdrawals are done through debit or credit cards, a fee of 3.5% is applicable. Withdrawals are said to be processed within 24 hours and for certain methods, it might take upto 5 business days.
Information about dormant fees is unknown and apart from their own staff, no one can give you the clear picture about that. Lastly, know that for wire transfer, the fees depend upon your region and it ranges between $30 to $40.
Firms that are exceptional, offer true value and help people genuinely always do well regardless of whether it is based primarily online or offline. People love to brag about their experience and it creates a loop wherein the underlying firms get a lot of free marketing. While there is no such thing as bad publicity, the same cannot be said about customer feedback.
Over the years, many people have talked about the way this broker treated them and the vast majority appeared to regret their choice. 2.8 is the rating they have got on Trustpilot and it goes without mentioning that their score is terrible.
You can see the way the clients have expressed their frustration by directly visiting the Trustpilot subsection or you can simply click on the link provided above. Now, ask yourself, do you want to continue with them even after seeing the kind of reputation they have got?
Is Investous a Scam?
Not exactly, let us explain the situation in a simple manner. This broker is technically speaking, a law abiding platform. However, there are a lot of things about their policies that makes them gain an unfair edge over their clients. They appear to have tons of conflict of interest, the trading cost is ridiculous compared to industry’s standards. Moreover, the fees associated with deposits and withdrawals are also undoubtedly on the higher side.
Compared to the merits, the list of demerits are long and until more information about their operations are available, it is better to maintain your distance from them. If you have some funds stuck with this platform or if you are unable to get your money out, then do reach us via the contact form provided on our site. We will run analytics and gather data for you for free.
Investous is a broker that lacks credibility and their regulatory status does not mean much. The way they treat their clients is unethical and apart from charging high fees for their services, they are not interested in anything else. Customer support is pathetic and in some cases, to get a reply from them will become a huge task.
There is also a lot of confusion regarding the instruments offered and the leverage as well. Moreover, they do not provide any kind of social or copy trading functionality as well.
So, be careful when it comes to using their platform and try them on demo at least to make sure that the interface is friendly enough for you. Demo accounts will not experience liquidity crises and it has few flaws too. Remember, there are tons of choices available and a lot of regulated brokers offer way better conditions and most of them require around $100 only.